Major players in the metal structural insulation panels market are Arcelor Mittal, Jindal Mectec Insulation Private Limited, ATAS International Inc, Kingspan Group PLC, Flexospan Steel Buildings Inc, Kirby Building Systems, MIB Facades Ltd, Permatherm Inc, Nucor Building Systems, PFB Corporation, KPS Global, American Insulated Panel, Structural Panels Inc, and Ingreen Systems Corp.
New York, Dec. 09, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Metal Structural Insulation Panels Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06372092/?utm_source=GNW
The global metal structural insulation panels market is expected to grow from $ 40.36 billion in 2021 to $ 43.06 billion in 2022 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The metal structural insulation panels market is expected to reach $ 50.68 billion in 2026 at a CAGR of 4.2%.
The metal structural insulation panels market consists of the sale of metal structural insulation panels by entities (organizations, sole traders, and partnerships) that are used to construct ceilings, walls, and floors for residential and light commercial properties.Metal structural insulated panels (SIPs) refer to high-performance building systems used for construction purposes.
These structural panels are made up of oriented strand board and an insulating foam core (OSB). These panels are suitable for any building design and provide good strength to the building.
The main types of facing materials in metal structural insulation panels are OSB, MgO Board, and others.The oriented strand board (OSB) material is used for floor underlayment, wall sheathing, roof cover, and I-joist in both commercial and residential buildings.
OSB is also used in reels, furniture, trailer liners, and recreational vehicle floors.Oriented strand board (OSB) and plywood are wood structural panels made by gluing and compressing pieces of wood together.
The different applications include floors, roofs, and walls. The several end users include residential and non-residential.
Asia Pacific was the largest region in the metal structural insulation panels market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the metal structural insulation panels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growing demand for construction is expected to propel the growth of the metal structural insulation panels market going forward.Construction refers to the activity of building something, typically a large structure.
Metal structural insulation panels are used to construct ceilings, walls, and floors in the construction industry.These panels are also used for roofs and walls in commercial buildings and cold storage, which helps to increase the strength and durability of the building and make it more cost-effective.
They also form an insulating core. For instance, according to the Ministry of statistics and program implementation, an India-based government program, the construction sector in India grew by 10.2 percent in 2022 and recorded a growth of 8.6% for the year 2020. Furthermore, according to the Royal Institution of Chartered Surveyors, a UK-based surveying company, for the year 2021, there was a 9.7% increase in the value of construction output in the UK, which was 42.7 billion in the year 2021, as compared to 38.9 billion for the year 2020. Therefore, the growing demand for construction is driving the growth of the metal structural insulation panels market.
Strategic partnerships and collaborations are a key trend gaining popularity in the metal structural insulation panels market.Major companies operating in the metal structural insulation panels sector are focused on partnerships to sustain their position in the market.
For instance, in July 2022, Sika Corporation, a Europe-based specialty chemical company, announced a partnership agreement with All-Weather Insulated Panels (AWIP).With this partnership, both companies joined to develop AWIP’s OneDek insulated roof deck panel and Sika’s Sarnafil PVC roof membrane, which is fully warranted under Sika Sarnafil’s.
All-Weather Insulated Panels is a US-based manufacturer of insulated metal panels that designs, constructs, and advances.Moreover, in July 2022, ArcelorMittal, a Luxembourg-based steel manufacturing company and a manufacturer of metal insulation panels, entered into a partnership with Gestamp to put low-carbon emissions steel parts on the automotive production line.
With this partnership, they are expected to develop low-carbon steel for use in car parts. Gestamp is a Spin-based automotive engineering company.
In August 2021, Nucor, a US-based steel production company, acquired Cornerstone Building Brands’ insulated metal panel business for a deal amount of $ 1 billion.Through this acquisition, Nucor will enter the insulated metal panels market and plans to expand its business all over the United States.
Cornerstone Building Brands is a US-based manufacturer of metal roofing, insulating panels, wall systems, and metal accessories.
The countries covered in the metal structural insulation panels market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The metal structural insulation panel market research report is one of a series of new reports that provides metal structural insulation panel market statistics, including metal structural insulation panel industry global market size, regional shares, competitors with a metal structural insulation panel market share, detailed metal structural insulation panel market segments, market trends and opportunities, and any further data you may need to thrive in the metal structural insulation panel industry. This metal structural insulation panel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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